You are given the following spot rates from the latest upward-sloping yield curve: Years to Maturity 1 2 3 4 Spot Rate 5.50% 6.25% 6.75% 7.25% You enter into a 4-year interest swap (with a notional amount of 1,000,000) to pay a xed rate and to receive a oating rate based on future 1-year LIBOR rates. If the swap has annual payments, what is the xed rate you should pay?Determine the value of the swap.